The pound is slightly weaker against the euro and the dollar this morning following the release of inflation rate figures. Inflation for the UK came in at 2% year-on-year in July, missing expectations of 2.3% and easing for the first time since February.
This drop has been attributed to falling prices in clothing and footwear, as well as restaurant meals and drinks where prices didn’t rise as much as last year.
All eyes will also be on the latest inflation rate figures for the Eurozone, which are due to be released later today. As well as this, the markets will be keeping an eye on the Federal Reserve’s meeting minutes when they are published this evening.
Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
